If you own a business in a common industry, there are certain tactics that usually work for reaching more customers.
For restaurants, making your menu available online or through a Facebook ad helps to create awareness & let visitors plan their meals ahead of time.
For retail, you offer coupons & discounts, often as a perk for subscribing to your business’s mailing list. Beauty shops offer not only their own bonus reward programs, but online tutorials & other resources.
However…if you own a business in an industry that is more obscure with an ultra-specific type of following, coming up with a Customer Value Journey may be a little harder.
And that’s where having a clever, creative niche marketing strategy comes in.
What’s A Niche Marketing Strategy?
A niche marketing strategy focuses on a narrow, specific target audience. While other business types, like the ones mentioned above, may reach a more general group of consumers, niche markets zero in on one particular group with a strong interest in what a business has to offer.
These markets could include things like specific locations, cultures, religions, musical or film tastes, political views, lifestyle choices or any other particular communities.
For example, in contrast to a business organization that offers community & support to any type of business owner, a niche market would be an organization strictly for Italian business owners.
A food company that offers products exclusively for people with nut & food allergies would also be targeting a niche market.
Niche marketing strategy is different from general marketing because more than ever, you must speak to that particular audience with pinpointed accuracy, demonstrating how your product or service means that very specific need.
And because you are dealing with a smaller audience segment, you need to ensure that you are clearly communicating & telling your customers’ story.
Bottom line? It’s all about finding your tribe, then creating something to fill a unique need for that group.
Niche Marketing Strategy Done Right: 1 Business’s Story
Halloween may be over, but for Kevin Bergeron & Suzy Soto, it’s Halloween all year ‘round. Their business, Waxwork Records, manufactures vinyl records of exclusively horror & cult film soundtracks featuring original cover art.
Vinyl records are outdated technology, but in the last few years, they’ve come back in style with a vengeance. Even with the advent & popularity of streaming services like Spotify, Amazon Music & Apple Music, millennials have flocked to vinyl as a source of musical entertainment.
In fact, millennials make up the majority of vinyl record buyers, & vinyl purchases in general are at their highest since 1988.
This is because younger listeners are looking to not just listen to music, but to experience it. Vinyl, with its audio imperfections & unique potential for album art, perfectly fits this need. It offers a way to listen to music that is more engaging & interactive than streaming it on a phone.
And as always, horror, sci-fi & cult classics remain timeless favorites. Waxwork takes the modern resurgence of vinyl & mixes it with this interest in niche movie genres to create a unique business that speaks to a very particular entertainment experience.
Bergeron, a former punk rock musician, & Soto, a former photography, bring together a unique combination of experiences that is tailor made for their ultra-specific business.
Creating an experience for fans is at the heart of Waxwork. Not only do they press the soundtracks, but they also design unique artwork for the covers & inserts.
They also collaborate & connect with the studios, directors & writers of the films to create the projects. One of Bergeron’s favorite projects was an issue of the Goosebumps film soundtrack featuring a cover designed by the artist behind the covers of the classic 1990s book series.
Each project is meticulously researched, designed & crafted to not just capture the music, but the entire experience & “vibe” of the film.
Most importantly, the business itself has developed a cult following because of its creative effort to connect with fans. They post images of their products on Instagram, but take it a step further by releasing short “trailers” for each soundtrack that capture the tone & experience of enjoying the record.
They also create opportunities for fans of the business to directly get involved with projects, using a poll app in their Shopify store to let fans vote on album artwork for upcoming releases.
And of course, their community with fans involves building hype & excitement with contests & giveaways.
But their most powerful niche marketing strategy is their appeal to exclusivity & urgency. Each album is a limited edition, which creates greater demand among listeners to make purchases.
But to make sure that their most loyal customers don’t miss out, Waxwork also offers a limited subscription service that provides members with 5 album releases & other surprises, guaranteeing that they’ll receive the soundtracks they’re most excited about.
However…they take their membership program a step further. The subscriptions can only be purchased once a year during the month of December. The strategy has paid off, as subscriptions continue to double year over year.
What You Can Learn From Waxwork’s Niche Marketing Strategy
If you’re marketing for a specific audience, there are several takeaways that you can use to reach your ideal customers.
Sell What You’re Passionate About
Waxwork was born out of the founders’ passion for music & art—& that passion is evident in the care that goes into creating each album project.
Make sure that you can articulate your love for your product or service through your content creation. If you are clearly excited about what you sell & believe the transformation it offers, customers will catch your vision.
Connect With Your Customers
The genius of Waxwork is how well it targets its audience through a niche marketing strategy that addresses their specific interests—not just with products they’ll love, but with opportunities to get involved.
Remember that part of the Customer Value Journey is creating excitement among your customers. Find a way to make them a part of your business’s family by offering polls, chances to vote on new merchandise & special subscriptions, deals & more.
Create An Experience
Regardless of whether you are marketing to a niche audience or not, all customers are looking for an experience. They don’t just want to buy something—they want it to be memorable.
Find ways to excite your customers & build enthusiasm & you’ll be on your way to bringing them back more often.
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